Since the company’s inception on July 14, 2017, Binance has been establishing itself as one of the most influential and most prominent cryptocurrency exchange in the world. Binance has also been gaining a lot of new users since Bittrex suspended new user accounts and is currently the exchange of choice for many cryptocurrency traders.
Why Burn the Tokens?
To increase the value of its native token, Binance Coin (BNB), Binance is scheduling quarterly Coin Burns and using 20 percent of the profit made to buy back and decrease the supply of the exchange tokens.
The exchange is also earning widespread traction as it offers an easy-to-use and novice-friendly system that doesn’t require a lot of verifications to be used. If a trader doesn’t exceed more than a two BTC withdrawal per day, there is no need to get verified.